ML-Implode News - WTO Slashes Global Trade Forecast by 39% Since April: "Wake-Up Call" Says WTO Director

The new figure of 1.7 percent, down from the WTO's previous estimate of 2.8 percent in April, marked the first time in 15 years that international commerce was expected to lag the growth of the world economy, the trade body said.
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"We need to make sure that this does not translate into misguided policies that could make the situation much worse, not only from the perspective of trade but also for job creation and economic growth and development which are so closely linked to an open trading system," the report quoted him as saying.

The data underlined concerns that, after a long period of growth through globalization and reliance on global trade, governments are increasingly seeking to protect their own industries and promote domestic producers at the expense of foreign competitors.

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WTO Slashes Global Trade Forecast by 39% Since April: "Wake-Up Call" Says WTO Director